73
73
May 15, 2013
05/13
by
FBC
tv
eye 73
favorite 0
quote 0
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or improved economic conditions, you drastically and very quickly lower your debt position and your deficit position. that should be the first order of business. that is really what we do first before we figure out what is our true remaining structural long-term deficit. melissa: okay, but doug, you're a numbers guy. let's do thisatively, rather than with our emotions. can the economy quantitatively grow enough to deal with paying for our promises for the entitlements and the system that we have laid out? >> no. at the heart of this are p
that is the deficit problem. without entitlement reform there is no amount of growth that will fix it. melissa: christian, isn't this all noise and nonsense until we fix that problem? >> well, not exactly because, you know, when you have an economy that's suffering from high unemployment andd3 stagnating wages you're not at your full productive capacity. once you reach that level as we've seen in the last few months, once you increase revenues whether it comes from tax increases or...
71
71
May 15, 2013
05/13
by
FBC
tv
eye 71
favorite 0
quote 0
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer ] when people talk, great things happen. ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and withhat: you're history. instead of looking behind... delta is looking beyond. 80housand of us investing billions. in everything from the best experiences below... to the finest comforts above. we're not simply saluting history... we're making it. >> the federal budget is a visit expected to shrink this fiscal year after four years of deficit of $1 trillion of ex
budget deficit? i am serious the deficit dramatically lower. next. we're not in london, are ? apparently my debit card is. what? i know. don't worry, we have cancelled your old card. great. thank you. in addition to us monitoring your account or unusual activity, you could alsoet up free account alerts. okay. [ female announcer ] atells fargo we're working rounthe clock to help protect your money and financial informaon. here your temporary card. welcome back. how was london? [ female announcer...
93
93
May 20, 2013
05/13
by
FBC
tv
eye 93
favorite 0
quote 0
with deficits better than we thought they would be with other outside things like the sequester, that will give more fuel to the fire. i would pile everything in, but i would slowly be putting money to work in the stock market because this thing doesn't look to slow down. everybody wants the 4% pullback. we got the 4% pull back, april 11th to april 16th. what is that between friends that was your opportunity. david: hold on a second. joe has tivo earnings. go ahead, joe, what are they? >> tivo did well, it was a beat on eps and revenue t was a beat on projected to be a loss of 14 cents. a beat on $86.2 million which was a beat of the estimate, 61.87. tivo which is trying to stay relevant had good news coming out today "after the bell.". david: not an earnings report. this was a loss report. but very good news. liz: important to point out, you're looking revenue, 13% year-over-year increase in the technology revenue. this is a stock while down for the quarter is up about 31% year-over-year. still no word, i know, joe you will be looking for this, to see if there is any mention of upcom
with deficits better than we thought they would be with other outside things like the sequester, that will give more fuel to the fire. i would pile everything in, but i would slowly be putting money to work in the stock market because this thing doesn't look to slow down. everybody wants the 4% pullback. we got the 4% pull back, april 11th to april 16th. what is that between friends that was your opportunity. david: hold on a second. joe has tivo earnings. go ahead, joe, what are they? >>...
75
75
May 15, 2013
05/13
by
FBC
tv
eye 75
favorite 0
quote 0
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this year and same story for the s&p 500, the 14th he record there this year. we're looking at a flat to slightly lower opening today, but that happened yesterday and we still went up 120 by the close. stay tuned. and suddenly, it seems that president obama's second term agenda is unravelling. and the mainstream media have turned on the administration. big government seriously questioned, my, have times have changed. in just ten days. here is the the all-government, all the time president speaking the at ohio state may the 5th. >> unfortunately,
the deficit is getting smaller. a lot smaller. the congressional budget office says it will be $400 million less than the trillion dollars deficit last year. it's down because of higher taxes. a 60 billion check to the government from fannie and freddie. there's a down side for those of us who want the government to get its finances in order, this takes the wind out of the sails of the spending, cutting movement. maybe the deficit news helped stocks, another record close for the dow, 19th this...
99
99
May 16, 2013
05/13
by
FBC
tv
eye 99
favorite 0
quote 0
like our deficit problems and, that, you s would be the biggest sin, potentially to come of this, right? >>t is unfortunate this is happening. as one was said when it comes to abuse of presidential power, obama's turning out to be t president that nixon aspired to be. i mean, this is really unfortuuate. neil: on a side note, you mention the nixon thing how does this compare to watergate or what you know of so f? way early in the process but some are citing the oddity of this is all 40 years almost to the day of watergate hearings. >> i was a little kid on capitol hill when all of this developed. neil: sure. >> from day to day you didn't know what was going to, shoe was going to fall next and it spread and it spread and prty soon it was like a whole scenario. neil: i remember, that was supposed to be a left-wing cabal against a republican president. >> so who knows. this is unfortunate there are huge problems facing the country. none of them is being addressed. a lot of cans are being kicked and the budget is more important. cbo is just as blame worthy of distracting the attention of con
like our deficit problems and, that, you s would be the biggest sin, potentially to come of this, right? >>t is unfortunate this is happening. as one was said when it comes to abuse of presidential power, obama's turning out to be t president that nixon aspired to be. i mean, this is really unfortuuate. neil: on a side note, you mention the nixon thing how does this compare to watergate or what you know of so f? way early in the process but some are citing the oddity of this is all 40...
92
92
May 13, 2013
05/13
by
FBC
tv
eye 92
favorite 0
quote 0
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the best investment? >> there is no safe haven as i indicated. you have to spread your eggs. one the cure return sis more than many others do is the euro priest sigh list because everybody else hates it. they're mopping up liquidity where everyone else is printing money. they have a lot of pain. the reason they have pain is they're not print enough money. i'm not saying buy equities but the currency can be stronger. ultimately you have to have a basket. can't put money one egg, be it australian dollar or the looun any or whatever it may be. lori: axel merk. thanks for coming in. melissa:
the deficit matters. if you have over 200% debt to gd ratio you have finance it domesticly. if you have foreigners buying your currency it matters. prirnt money like crazy, this can not have a good ending. cyprus when that blew up it was, a big deal. but japan is of course much bigger deal. we've always argue we never had a eurozone crisis. that is good news. bad news we have a global crisis that might focus on the japan or the u.k.. lori: what should that basket of currencies look like for the...
43
43
May 16, 2013
05/13
by
FBC
tv
eye 43
favorite 0
quote 0
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and salary growth two times what has been. >> that $642 billion it is a lot less than it was in well under $1 trillion and we can remember a time when deficits were approaching $100 billion now we celebrate 642 billion but whatever that is. >> of course, $50 billion is a pavement a tax gimmick from fannie mae. where do they get the 60 million? they borrow it. neil: a lot of it is a tax increase. that part is there temporarily because with the fiscal cliff came at the end of the year there was a huge pre-emptive realization and bonuses were paid and 100 billion as one time revenue. neil: so you say with a focus on the lates
neil: deficits are tumbling the revenues are coming in. >> then the next thing you know the wags, you know --. neil: we don't have to cut. we don't have to cut. >> cbo says problem solved. this is what some blogger on "the washington post" said today believe the cbo forecast i have some swampland in florida. they suggest 40 years no recession or no economic dislocation we will create seven times more jobs in the next decade than we did over the next decade with wage and...
65
65
May 19, 2013
05/13
by
FBC
tv
eye 65
favorite 0
quote 0
insteadf what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. it's very difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade education has an equal effect of reducinghe deficit in government. that is not only wrong but it's stupid. the reality that a high skilled immigrant, one with a college education pays aut $30,000 more in taxes thanhey take in benefits. a low educated immigrant one with high school degree or less does exactly thepposite. though will take about $30,000 more in benefits than they pay in taxes. the essence of this bill is saying that it's going to take 11.5 million illegal immigrants that on average education of tenth grade and giving them access to 80 different welre programs, obamacare which is go
insteadf what you are concluding your reported it would reduce the deficit by $2.5 trillion? >> i sent six months months on this report. the methology is about 30 pages long. any person can look at my detail of my analysis. mr. egan has a press release of study he might do. it's very difficult to assess what he is talking about because it's so hidden and minimal. one thing i can say about that is his study basically concludes that an immigrant with an ph.d. and one with a fourth grade...
123
123
May 14, 2013
05/13
by
FBC
tv
eye 123
favorite 0
quote 0
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less than two hours from extending the win he can street of 18 straight tuesday as the market is on track to finish in record territory yet again. joining me, above pavlick, from banyon partners with his take what he is watching to drive the market higher. bob, thank you so much for joining us. so you say, look there's lots more room to the upside. i don't say that you say a lot of room but there is room to the upside. what is driving the markets right now? we've gone through earnings. the economic date at thaa is so so. by all economic accounts we're drift
he inherited a city with $300,000 budget deficit. the state's appointed emergency financial manager warned that the deficit could $386 million by jewel 1st. >>> in new jersey the role other coaster at seaside heights is being demolished. it was a symbol of the pamage that superstorm sandy inflicted on the east coast. those are your headlines. i'm patti ann browne. back to you. ashley: patti ann, we thank you so much. get back to the markets. call it a case of the tuesdays. the dow less...
106
106
May 16, 2013
05/13
by
FBC
tv
eye 106
favorite 0
quote 0
well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted and careful not to blame funding for the attackkin benghazi but mentioning funding a rounded to create the inference. boxer was less careful and when you ask about the ira'she ? he did not answer the question so he was very legalistic. lou: this is moving from a crisis of confidence, it seems to me, directly to a constitutional crisis. this president has lost his credibility. it has been shredded. where are we headed? >> but his ability is to get things done and there is no appetite in washington to get anything done with scandal swirling around the president so beleaguered not he is labor it they and lame in the
well it was a string of republican and democratic decisions to not hit the full number on security deficits. this is outrageous and senator menendez says we know about benghazi? somebody will puke out there outrageous conduct. [laughter] >> no vomit here in washington d.c. tonight studio number four. lou: maybe you are tougher. >> we have been marinating longer but to your point* the president today was so careful with the artfully crafted all of his theaters were artfully crafted...
104
104
May 13, 2013
05/13
by
FBC
tv
eye 104
favorite 0
quote 0
so as this budget deficit shrinks, and it is significantly lower than it was at this time last year, as that shrinks, the treasury's going to be issuing less debt which means the fed might not have to buy quite as much to get interest rates where it wants them. liz: so what's next, larry? >> well, i mean, if this budget deficit continues to shrink and treasury issuance continues to slow, it's possible the fed would reduce some of that buying. now, not a huge amount. not enough that everyone's going to say, oh, the fed is backing out. liz: everybody or to -- it might be to the markets, or it might be for the markets. it might have s.a.t. alert here, sliewb rouse or positive effect if, for example, it shows that maybe this economy is finally getting sort of a bit healthier and, therefore, we don't need to prop it up with that much medication? >> well, if that's the reason, then it is a good thing long term if the data continues to improve. i think there's still a big if. the economy be is growing very slowly, and there has been improvement in the unemployment picture, but it's still, i
so as this budget deficit shrinks, and it is significantly lower than it was at this time last year, as that shrinks, the treasury's going to be issuing less debt which means the fed might not have to buy quite as much to get interest rates where it wants them. liz: so what's next, larry? >> well, i mean, if this budget deficit continues to shrink and treasury issuance continues to slow, it's possible the fed would reduce some of that buying. now, not a huge amount. not enough that...
103
103
May 13, 2013
05/13
by
FBC
tv
eye 103
favorite 0
quote 0
laughter] he has numbers that says instead of what you say in your report it would reduce the overall deficit by 2.5 trillion dollars it could not be more of a swing? >> i spent six months preparing this report 80 pages long in the appendix describes the methodology over 30 pages so everybody could look in a my analysis and mr. egan does not have a steady but basically a press release about a study he might do he has provided about a page and a half of the information. >> i was taught brevity is the soul of wind and i tried to right things as long as they need to be. we look at the difference between the typical immigration scenario and reported in the paper the facts on labor statistics from immigrants and higher than native-born and out of the research literature and that is arithmetic. >> that is a complicated at all. >> what is the correlation between high school college degree is it petraeus agrees and employment levels? is there one. >> no question as your education goes up the unemployment rate goes down and skills are at a premium in the global economy. lou: 11 million immigrants more
laughter] he has numbers that says instead of what you say in your report it would reduce the overall deficit by 2.5 trillion dollars it could not be more of a swing? >> i spent six months preparing this report 80 pages long in the appendix describes the methodology over 30 pages so everybody could look in a my analysis and mr. egan does not have a steady but basically a press release about a study he might do he has provided about a page and a half of the information. >> i was...
92
92
May 14, 2013
05/13
by
FBC
tv
eye 92
favorite 0
quote 0
we seemed that we were getting and budget deficits, oh, my god everyone can relax, get the economy go. then we have that wet blanket all over. depending how deep and ugly it -ets it will abfe affect the consumer. making a decision. and it could have a negative effect. neil: malia, i think every time you have a potential of a scandal. economic backdrop has a lot to say whether the scandals do that president in. i think. bill clinton of saved in large part becauseethe economy everything doing so well. this predent mig be saved. by comparison it is doing bter than it was. richard nixon was not so fortunate. >> i think you bring up a good point with looking at nixon and lousy economy. that probabl had a lot to do with the lousy economy. i don't think that scandal in washington affects our markets that much, if it did, i am sure we would not be as well off as we are, scandals in washington have been happening since washington, it is important we remember that what creates strong economies are jobs and government working with citizens to build its economy. >> what if people question that go
we seemed that we were getting and budget deficits, oh, my god everyone can relax, get the economy go. then we have that wet blanket all over. depending how deep and ugly it -ets it will abfe affect the consumer. making a decision. and it could have a negative effect. neil: malia, i think every time you have a potential of a scandal. economic backdrop has a lot to say whether the scandals do that president in. i think. bill clinton of saved in large part becauseethe economy everything doing so...
94
94
May 20, 2013
05/13
by
FBC
tv
eye 94
favorite 0
quote 1
our deficit is dropping. it is dropping to a very manageable level. again, that is a really manageable good level. connell: you are ready to argue that point. >> by 2017, the deficits will start going up again. they often say that there is no balance in this budget. the president has said again and again that spending cuts will equal out to tax hikes. the president that he will only raise taxes by 580 billion. the cbo says this budget raises them by $1.1 trillion. connell: we should pat ourselves on the back to even have the focus to have this conversation. we cannot get beyond, not only the scandal of the day, but the scandals of the day. i know we did one segment on it today, but they have been few and far between. >> there is no question. this has been a terrible week for the white house. we have really good economic news in a lot of ways. we are actually ssending less on obamacare than we originally thought. there is lots of good news and it. >> i do not think $59 billion is a big success story to talk about. when the president goes out there and
our deficit is dropping. it is dropping to a very manageable level. again, that is a really manageable good level. connell: you are ready to argue that point. >> by 2017, the deficits will start going up again. they often say that there is no balance in this budget. the president has said again and again that spending cuts will equal out to tax hikes. the president that he will only raise taxes by 580 billion. the cbo says this budget raises them by $1.1 trillion. connell: we should pat...
81
81
May 15, 2013
05/13
by
FBC
tv
eye 81
favorite 0
quote 0
we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse. >> i will give you one. it is still another one. if i can quickly push back a little on what david said, i agree. i would also say be careful what you wish for. the specter of a three year lame-duck president does not look that great internationally. i do worry about that angle. >> i am not too worried about what is happening internationally. i think they will basically be just slightly by over the next couple years. it is the economy here that i am worried about. with gridlock, look at what we have been able to get done. the president realizes
we were hoping to work more on the deficit. do you think this will diverge us from getting things like that done in washington? >> i am not so sure that the market will take that as bad news. the less they do inside the beltway seems to be the better. that is seen as bad news. the more gridlock, the better in many peoples minds. dennis: we have justice with the ap, the irs going after tea party groups, if we have a third-party to come up that is overreaching like that, it gets far worse....
125
125
May 14, 2013
05/13
by
FBC
tv
eye 125
favorite 0
quote 0
a growing deficit plus those unfunded pensions. where will the money come from to save this city? they need it fast. a frequent guest on this program. thank you very much for coming back to us. where is the money coming from? they will have to have money within the next few weeks. >> you may be talking to the wrong guy. i am sure plenty of people are in line for a haircut all around. i wanted to talk to about why detroit and other cities are failing. stuart: you have to have an opinion on this. >> my opinion is that detroit defined michigan. stuart: there are only two choices here. they have to have money or they just totally shut down. everything shuts down totally. there is only two choices. >> i think that the governor has to step up. i think that this city has to be committed to a long-term plan. stuart: are you prepared to see money from your city go to detroit? >> no. we cannot afford it. again, i think a lot of folks are in line for a haircut. i think it will have to be shared sacrifice. our cities are failing by design. we have many cities that are headed towards bankruptc
a growing deficit plus those unfunded pensions. where will the money come from to save this city? they need it fast. a frequent guest on this program. thank you very much for coming back to us. where is the money coming from? they will have to have money within the next few weeks. >> you may be talking to the wrong guy. i am sure plenty of people are in line for a haircut all around. i wanted to talk to about why detroit and other cities are failing. stuart: you have to have an opinion on...